Know Before You Go
Understand the cost for study abroad and what your billable to GW and non-billable, or personal, expenses will be when preparing for your travel
While preparing for study abroad, it is essential to consider the financial aspects of the experience. To properly prepare and create your study abroad budget, it is important to plan ahead and follow the below simple, two main steps.
Understand the cost for study abroad and what your billable to GW and non-billable, or personal, expenses will be when preparing for your travel
Use our budget calculator template to help estimate your overall expenses, considering cost of living differences, and develop your budget
Tips and Recommendations for Budgeting
for Non-Billable Expenses
Consider what types of things or activities you will be spending your money on prior to departing for program as well as the method you will use for spending money abroad. Be sure to be as specific as possible. Here are some questions to ask yourself:
Research your program and know what is covered within your billable costs (GW Tuition and Tier fee) - anything covered you will not need to separately budget for. Adjust your personal expenses based on what your program includes. For example, if your program includes a lot of pre-planned all-inclusive excursions, consider planning fewer personal travel experiences. Likewise, if your program includes meals, take advantage of this and plan for less meals eaten out. Make sure to pay close attention within your program's literature as to what is optional and what is required. Optional or premium amenities are not included in the tier fee, some examples to look for may include:
Every country has a different monetary system. Make sure you know and factor in exchange rates and cost of living when budgeting for your time abroad. Don't let yourself be fooled by a seemingly small looking number on a price tag - always consider what the cost is in your own currency. We recommend the following apps and websites you can download or bookmark to help keep you in the know:
Track your expenses while you are abroad to keep your spending in check. You can easily track yourself using an app! There are a number of easy to use apps that can make budgeting a breeze:
When it comes to how to find the deal, we have two main pieces of advice: 1) live like a local and 2) use being a student to your advantage!
Living like a local can help you stay on budget and not overspend as you will not be falling for expensive tourist traps or trying to eat imported foods when you can live cheap off of the local delacacies!
Additionally, the benefit of being a student is getting to capitalize on all the great student discounts! Use this to your advantage while abroad and never not ask somewhere if they offer a student discount! For additional support on traveling and studying abroad on a budget, check out some of these resources:
Office for Study Abroad
2127 G Street NW
Washington, DC 20052
Phone: 202-994-1649
Fax: 202-994-9133
Main Contact: [email protected]
For Inbound Exchange Inquiries: [email protected]
For Outbound Exchange Inquiries from International Partners only: [email protected]